Schnitzer may sell Cascade Steel Rolling Mills

Schnitzer may sell Cascade Steel Rolling Mills

Portland, US based ferrous scrap processor Schnitzer Steel Industries reportedly plans to sell its mini-mill Cascade Steel Rolling Mills. Schnitzer has recently asked the investment firm Bear, Stearns & Co to search for possible alternatives for its mill. It is reported that, the mill may be sold or made be a merger company. Schnitzer purchased Cascade Steel in 1984 and since then has increased its annual capacity from 400'000 tons to 700'000 tons.